13 Sep 12 Value of goods taken from stock for private use (2011-12) - TD 2012/20
On 12 September 2012, the ATO issued Taxation Determination TD 2012/20 entitled "Income tax: value of goods taken from stock for private use for the 2011-12 income year". It was not previously released as a draft.
The Determination provides an update of amounts that the Commissioner will accept as estimates of the value of goods taken from trading stock for private use by taxpayers in named industries. The updated amounts are contained in the Schedule for the value of goods taken from trading stock (Schedule) at para 2 of the Determination.